How to Transfer Stocks from Robinhood to Fidelity (Know all about that)

How to Transfer Stocks from Robinhood to Fidelity (Know all about that)

Transferr stocks from Robinhood to Fidelity is a straightforward process that can be accomplished with a few simple steps. This guide will provide you with detailed instructions on how to transfer your shares, the associated costs, and additional considerations for transferring your investments efficiently.

How to Transfer Shares from Robinhood to Fidelity

To transfer shares from Robinhood to Fidelity, you will need to use the Automated Customer Account Transfer Service (ACATS). Here’s how to do it:

  • Open a Fidelity Account: If you do not already have a Fidelity account, you will need to open one. Visit Fidelity’s website and follow the instructions to set up your new account.
  • Initiate the Transfer: Log in to your Fidelity account and navigate to the "Transfer" section. Select the option to transfer assets from an external brokerage account.
  • Provide Account Details: Enter your Robinhood account information, including your account number and any other required details.
  • Select Assets to Transfer: Specify the stocks or other assets you wish to transfer from Robinhood to Fidelity. You can choose to transfer all or part of your portfolio.
  • Submit the Transfer Request: Review your information and submit the transfer request. Fidelity will handle the transfer through the ACATS system, which typically takes 5-7 business days to complete.

    • Can I Transfer Stocks from Robinhood to Another Brokerage?

    Yes, you can transfer stocks from Robinhood to another brokerage, such as Fidelity, using the ACATS system. Most major brokerages support ACATS transfers, allowing you to move your investments with relative ease.

    How to Transfer Stocks from Robinhood to Fidelity for Free

    To transfer stocks from Robinhood to Fidelity without incurring fees, follow these steps:

  • Check Fee Waivers: Occasionally, Fidelity offers promotions that waive transfer fees. Check Fidelity’s website or contact their customer service to see if any such promotions are currently available.
  • Partial Transfers: Consider doing a partial transfer if you have cash or assets that do not need to be moved. This can sometimes reduce the overall cost.
  • Direct Transfer Initiation: Initiate the transfer directly through Fidelity’s platform to ensure no additional intermediary fees are applied.

    • Robinhood to Fidelity Transfer Fee

    Robinhood charges a $75 fee for transferring assets to another brokerage using the ACATS system. This fee applies whether you are transferring a partial or full account. This fee is automatically deducted from your Robinhood account balance at the time of the transfer.

    Robinhood Transfer Stock to Another Person

    Transferring stocks directly to another person’s brokerage account from Robinhood is not supported. To achieve a similar result, you would need to sell the stocks and transfer the cash proceeds to the other person, who could then use the funds to purchase the same stocks in their brokerage account.

    Robinhood Transfer Fee

    Aside from the $75 ACATS transfer fee, Robinhood does not charge fees for other types of transfers, such as withdrawing funds to a bank account. However, always check for the latest fee structure on Robinhood’s official website or app to stay informed of any updates.

    Fidelity Transfer Stock to Another Account

    Fidelity allows you to transfer stocks and other assets to another account within Fidelity. This can be done by contacting Fidelity customer service or using the online account management tools. Here’s a brief overview of the process:

  • Log In to Fidelity: Access your Fidelity account online.
  • Select Transfer Option: Navigate to the "Transfer" section and select the option to transfer assets to another Fidelity account.
  • Provide Account Details: Enter the recipient account details and specify the assets you wish to transfer.
  • Submit the Transfer Request: Review and confirm the transfer details before submitting the request. The transfer should be processed within a few business days.

    • Robinhood ACATS Transfer

    An ACATS (Automated Customer Account Transfer Service) transfer is the process used to move assets from one brokerage to another. Here’s how an ACATS transfer works with Robinhood:

  • Initiate the Transfer: Start the process by initiating a transfer request through the receiving brokerage (e.g., Fidelity).
  • Provide Necessary Information: The receiving brokerage will require details of your Robinhood account.
  • ACATS Processing: Once the request is submitted, the ACATS system handles the transfer, ensuring that all securities and cash are moved correctly.
  • Completion: The transfer typically takes 5-7 business days to complete. You will receive a confirmation once the process is finalized.

    • Transferring your stocks from Robinhood to Fidelity can be an efficient way to consolidate your investments and take advantage of Fidelity’s robust platform and services. By understanding the steps involved and potential fees, you can ensure a smooth transition of your assets.